For companies that have weathered economic storms in the past, riding out market volatility may seem like a practical choice. However, today’s global financial crisis has changed the rules of the game. In the current climate, companies cannot afford to sit on the sidelines waiting for the worst to pass. To survive, sustain and grow during these turbulent times, you must learn to adapt.

To help you identify the steps you need to take, Deloitte developed It’s time to make the call, a practical guide that outlines the seven key questions you must answer — now. In addition to identifying short-term strategies for shoring up working capital and reducing costs, the booklet outlines longer-term strategies to improve risk management, enhance valuation methodologies and strengthen relationships with your customers, suppliers and lenders.

Depending on your cash flow position, you may need to re-examine your risk factors, revisit your debt covenants and delve deeper into your financial statements than ever before. On the flip side, it may be time to adopt unconventional approaches to capitalize on rapidly narrowing windows of opportunity. Either way, this guide helps you engage your executive team and jump-start your thinking through a series of practical, hands-on discussions.

 Download It’s time to make the call and ensure your company is focused on today’s most critical issues